The billing engine is designed to manage and track loans, providing features such as loan schedules, outstanding balances, and delinquency status. This system supports a 50-week loan with a flat interest rate of 10% per annum.
- Loan Schedule: Provides the repayment schedule for a given loan.
- Outstanding Amount: Tracks the outstanding balance of the loan.
- Delinquency Status: Determines if a borrower is delinquent based on missed payments.
- Loan Amount: Rp 5,000,000
- Interest Rate: 10% per annum
- Repayment Duration: 50 weeks
For a loan amount of Rp 5,000,000 over 50 weeks at a 10% annual interest rate, the repayment schedule is as follows:
- W1: Rp 110,000
- W2: Rp 110,000
- W3: Rp 110,000
- ...
- W50: Rp 110,000
- The borrower repays the exact amount due each week or does not pay at all.
- Outstanding balance decreases with each repayment.
- At the end of the loan period, the outstanding balance should be zero.
- A borrower is considered delinquent if they miss 2 consecutive repayments.
- If repayments are missed, the borrower must make up for the missed payments in addition to the regular repayments.
- Description: Returns the current outstanding balance on a loan. Returns 0 if the loan is closed.
- Description: Checks if the borrower has missed more than 2 consecutive repayments.
- Description: Processes a payment of a certain amount on the loan.